PRESIDENT Ferdinand Marcos Jr. has reorganized the Philippine Crop Insurance Corp. (PCIC) to make it more responsive to the needs of small farmers, fisherfolk and other agricultural stakeholders, Malacañang said on Saturday.
The President, through Executive Secretary Lucas Bersamin, issued Executive Order (EO) 60 on May 13, reorganizing the PCIC and transferring it from the Department of Finance (DoF) to the Department of Agriculture (DA).
"A strong organizational link between the PCIC and DA is necessary to enhance agricultural insurance protection programs highly responsive to the needs of small farmers and fisherfolk, and other agricultural stakeholders, with policies and programs aimed at ensuring food security and modernization of the agricultural sector," the President said in his order.
"Streamlining and rationalizing the functional relationships of agencies with complementary mandates are essential to fostering organizational coherence, efficiency and cooperation within the bureaucracy," he added.
Under the reorganization, the PCIC Board shall now be composed of the presidents of the Land Bank of the Philippines and the PCIC; executive director of the Agricultural Credit Policy Council; and one representative from the private insurance industry appointed by the president upon nomination by the secretary of finance.
Also part of the board shall be three representatives from the subsistence farmers' sector, preferably representing agrarian reform beneficiaries, cooperatives or associations from Luzon, Visayas and Mindanao appointed by the president upon their nomination by different farmer organizations and/or cooperatives.
The appointment or designation of the chairman, vice chairman and other officers of the board of directors shall be in accordance with Republic Act (RA) 10149, or the GOCC Governance Act of 2011, according to the EO.
RA 8175, or the Revised Charter of the Philippine Crop Insurance Corp. Act of 1995, created the PCIC tasked to provide insurance protection to farmers against losses arising from natural disasters, plant diseases and pest infestation.
The Administrative Code of 1987 mandates the DA to promote the country's agricultural development by providing policy framework, public investments and support services necessary for the advancement of the agricultural sector.
The PCIC was established as a government-owned and -controlled corporation in 1995 to provide insurance protection to farmers, shielding them from losses caused by natural calamities, plant diseases and pest infestation of palay (unmilled rice), corn and other crops.
It had been under the wings of the DA until September 2021 when former president Rodrigo Duterte signed EO 148 that transferred the PCIC to the DoF.
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